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Funds Held for Clients and Corporate Investments (Tables) | 12 Months Ended
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May 31, 2012
Funds Held for Clients and Corporate Investments [Abstract] |
Funds held for clients and corporate investments |
|  | May 31, 2012 |
In millions |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Fair value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Funds held for clients money market securities and other cash equivalents |  | $ | 2,157.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,157.2 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  |  | 1,295.0 |  |  |  | 39.1 |  |  |  | (0.2 | ) |  |  | 1,333.9 |
Pre-refunded municipal bonds (1) |  |  | 326.8 |  |  |  | 7.5 |  |  |  | — |  |  |  | 334.3 |
Revenue municipal bonds |  |  | 487.9 |  |  |  | 13.2 |  |  |  | (0.1 | ) |  |  | 501.0 |
Variable rate demand notes |  |  | 889.8 |  |  |  | — |  |  |  | — |  |  |  | 889.8 |
Total available-for-sale securities |  |  | 2,999.5 |  |  |  | 59.8 |  |  |  | (0.3 | ) |  |  | 3,059.0 |
Other |  |  | 8.8 |  |  |  | 0.5 |  |  |  | (0.1 | ) |  |  | 9.2 |
Total funds held for clients and corporate investments |  | $ | 5,165.5 |  |  | $ | 60.3 |  |  | $ | (0.4 | ) |  | $ | 5,225.4 |
|  | May 31, 2011 |
In millions |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Fair value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Funds held for clients money market securities and other cash equivalents |  | $ | 1,372.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,372.9 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  |  | 1,017.5 |  |  |  | 33.1 |  |  |  | (0.1 | ) |  |  | 1,050.5 |
Pre-refunded municipal bonds (1) |  |  | 470.5 |  |  |  | 14.2 |  |  |  | — |  |  |  | 484.7 |
Revenue municipal bonds |  |  | 361.6 |  |  |  | 12.1 |  |  |  | — |  |  |  | 373.7 |
Variable rate demand notes |  |  | 828.3 |  |  |  | — |  |  |  | — |  |  |  | 828.3 |
Total available-for-sale securities |  |  | 2,677.9 |  |  |  | 59.4 |  |  |  | (0.1 | ) |  |  | 2,737.2 |
Other |  |  | 8.3 |  |  |  | 0.6 |  |  |  | — |  |  |  | 8.9 |
Total funds held for clients and corporate investments |  | $ | 4,059.1 |  |  | $ | 60.0 |  |  | $ | (0.1 | ) |  | $ | 4,119.0 |
(1) | Pre-refunded municipal bonds are secured by an escrow fund of U.S. government obligations.
Classification of investments on the Consolidated Balance Sheets |
|  | May 31, |
In millions |  | 2012 |  |  | 2011 |
Funds held for clients |  | $ | 4,544.2 |  |  | $ | 3,566.7 |
Corporate investments |  |  | 207.5 |  |  |  | 345.0 |
Long-term corporate investments |  |  | 473.7 |  |  |  | 207.3 |
Total funds held for clients and corporate investments |  | $ | 5,225.4 |  |  | $ | 4,119.0 |
Securities in an unrealized loss position |
|  | May 31, |
|  | 2012 |  |  | 2011 |
In millions |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |  |  | Fair Value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  | $ | (0.2 | ) |  | $ | 124.4 |  |  | $ | (0.1 | ) |  | $ | 37.3 |
Revenue municipal bonds |  |  | (0.1 | ) |  |  | 55.6 |  |  |  | — |  |  |  | 14.4 |
Total |  | $ | (0.3 | ) |  | $ | 180.0 |  |  | $ | (0.1 | ) |  | $ | 51.7 |
Realized gains and losses from the sale of available-for-sale securities |
|  | Year ended May 31, |
In millions |  | 2012 |  |  | 2011 |  |  | 2010 |
Gross realized gains |  | $ | 1.0 |  |  | $ | 1.3 |  |  | $ | 3.2 |
Gross realized losses |  |  | — |  |  |  | — |  |  |  | — |
Net realized gains |  | $ | 1.0 |  |  | $ | 1.3 |  |  | $ | 3.2 |
Amortized cost and fair value of available-for-sale securities by contractual maturity |
|  | May 31, 2012 |
In millions |  | Amortized cost |  |  | Fair value |
Maturity date: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 323.1 |  |  | $ | 325.8 |
Due after one year through three years |  |  | 619.6 |  |  |  | 641.0 |
Due after three years through five years |  |  | 630.2 |  |  |  | 655.7 |
Due after five years |  |  | 1,426.6 |  |  |  | 1,436.5 |
Total |  | $ | 2,999.5 |  |  | $ | 3,059.0 |

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